The Beginning of a Buyer’s Market in Manhattan?
23 Jan 2017 by Edward Fabila

Manhattanskyline_fablivingnyc1In the last quarter of 2016, the median resale price of homes in Manhattan saw its most precipitous drop in four years.Real_estate_4Q2016_edwardfabila

Is that something to be concerned about? If you look at other metrics in the same report, you might think not. For instance, in the same time period, the average sales price increased by 7.7 percent, to a record $2,098,459. That figure, however, includes not just resales, but sales of new construction — most of which went into contract years ago, when prices were higher — so it is less indicative of current market trends.

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A native New Yorker with a distinguished business background and comprehensive knowledge of the local real estate market, Edward Fabila is an accomplished industry veteran who expertly guides clients through the transaction process. "Being a real estate professional in New York City gives me the chance to do what I love most,"says Edward. "Meeting new people and finding the best real estate solution for them." Clients consistently appreciate Edward's honest, trustworthy approach and eagerness to guide them through every step of the process. Drawing from his personal experience purchasing a home in the Gramercy neighborhood, Edward also knows firsthand how to navigate the complexities of purchasing and remodeling an apartment in a coop building, and is happy to guide buyers in this process.